In 2004, the United States Senate passed a resolution which recognizes the month of April as National Financial Literacy Month. In honor of the month’s recognition, American Advisors Group (AAG) has released a series of animated educational videos which are aimed at teaching Americans how they can use home equity as a financial tool in retirement.
Throughout the month of April, AAG will release a series of animated videos which aim to highlight how a reverse mortgage can fit into a senior’s retirement financing goals, while also making additional written resources available alongside the video content. The first video, titled “Piggy Bank,” can be seen below.
This marks the first time that AAG has taken this kind of approach to product education, according to AAG Chief Marketing Officer Martin Lenoir. It becomes especially important to educate the public about how home equity may help provide a needed financial resource due to the currently volatile investment climate, he says.
“Especially in uncertain times like these, when the stock market is down and volatile, education around the use of home equity could be vital for seniors around the country,” Lenoir said in a statement about the new video material. “These videos will give simple explanations of reverse mortgage loans, help dispel some of the myths, and illustrate the different strategies that can help seniors have a better retirement.”
The release of each video will tackle specific topics relevant to reverse mortgages in the hope of making the idea of accessing home equity “as understandable and approachable as possible,” the company says. Information on how to take first steps, the loan process’ different stages, and combating common reverse mortgage myths are some of the topics touched on by the videos.
The titles of each video and the order in which they will be released is as follows:
- “Piggy Bank” – What is a Reverse Mortgage?
- “What’s Next?” –Understanding the Reverse Mortgage Loan Process
- “Line of Credit” – How Does a Reverse Mortgage Line of Credit Work?
- “Myths” – Common Reverse Mortgage Myths Debunked
- “Swiss Army Knife” – Reverse Mortgage Retirement Strategies
The videos will be released on AAG’s company website in addition to its YouTube channel, as well as all of its social media accounts including LinkedIn, Facebook and Twitter. The videos will also be made available to AAG’s loan officer corps to be used as tools to explain the reverse mortgage product concept to prospective clients.
According to the results of Reverse Mortgage Daily’s 2020 Outlook Survey and Report, nearly half of all respondents (47%) shared that their companies’ 2020 growth plan will include refined product education and marketing efforts, either as a primary or secondary component of a growth strategy.